The price level of imported rebar in the UAE market is at around AED 2,900-3,000/mt ($789-817/mt) delivered to site on a theoretical weight basis for 3- and 4-month deferred payment, excluding VAT.
The continuously rising import prices have been putting the Turkish producers' on the spot. Most traders, being reluctant to sell their stocks, do not want to conclude any sales below the level of AED 3,000/mt ($817/mt). However, construction companies are so far showing ambivalence regarding the price level in question.
On the other hand, having concluded sales for March shipments at the price level of $750/mt CFR on a theoretical weight basis, the Turkish producers have increased their offers to a level of $770/mt on a theoretical weight basis.